Millworks Technologies IPO
Price band
₹315 – ₹331
Lot size
400 shares
Min investment
₹1,32,400
Issue size
₹160.34 Cr
IPO schedule
| Open date | 14 Jul 2026 |
| Close date | 16 Jul 2026 |
| UPI mandate cut-off | 16 Jul 2026 |
| Allotment finalisation | 17 Jul 2026 |
| Refund initiation | 20 Jul 2026 |
| Shares credited to demat | 20 Jul 2026 |
| Listing date | 21 Jul 2026 |
| Mandate end date | 31 Jul 2026 |
| Anchor lock-in (50%) | 15 Aug 2026 |
| Anchor lock-in (remaining) | 14 Oct 2026 |
Grey Market Premium (GMP)
GMP is an unofficial, unregulated indicator and not a reliable predictor of listing price. Source: IPO Watch.
About Millworks Technologies
Millworks Technologies Limited is a precision engineering company engaged in manufacturing machined components, sheet metal parts, and integrated assemblies used in mission-critical applications across the railways, aerospace, defence, and semiconductor sectors. The company operates under both Build-to-Print (BTP) and Build-to-Spec (BTS) models, manufacturing products based either on customer drawings or functional and performance requirements. It also undertakes job-work assignments and primarily supplies to original equipment manufacturers (OEMs). Its manufacturing capabilities include precision machining, sheet metal fabrication, sub-assembly, welding, and inspection, supported by four manufacturing facilities in Bengaluru equipped with advanced CNC machines and quality testing infrastructure. The company maintains AS9100D and ISO 9001:2015 certified quality management systems across its facilities. It generates revenue from manufacturing and supplying precision-engineered components, with exports contributing a portion of its revenue through sales to customers across multiple international markets.
Strengths
- Experienced promoters with deep domain knowledge in precision engineering.
- The management team has an established execution and operating track record.
- Proven history of successfully completing customer orders across sectors.
- Precision manufacturing capabilities across machining, sheet metal fabrication, and sub-assemblies under both Build-to-Print and Build-to-Spec models.
- Four manufacturing facilities in Bengaluru support production for railways, aerospace, defence, and semiconductor customers.
Risks
- Revenue has fluctuated significantly in the past and may continue to remain volatile.
- High trade receivables increase working capital needs and collection risk.
- Rising raw material prices could adversely affect profitability.
- The business has high working capital requirements, which may impact operations and liquidity.
- Changes in the Ministry of Railways’ policies could negatively affect the business.
IPO information is sourced from public feeds and shown for general information only. It is not a recommendation to apply for this or any IPO. IPOs are equity investments and carry market risk; listing gains are not guaranteed and SME IPOs are especially volatile. Grey Market Premium (GMP) is unofficial and not endorsed by SEBI or the exchanges. Equity IPOs are applied for through a demat and trading account, not through mutual fund distribution services. Read the RHP and consult a SEBI-registered investment adviser before investing.